Investment
MetLife, Norges Bank Create JV to Invest in U.S. CRE Market
MetLife and Norges Bank Investment Management have teamed on a joint venture to invest collectively in Class A office properties in key U.S. markets, making its initial investment in One Financial Center in Boston.
Gansevoort Founder to Develop Luxury Lifestyle Hotel in London
Gansevoort Hotel Group founder Michael Achenbaum has partnered with Douglaston Development, SUSD and Hondo Enterprises to develop a full-service urban resort at 45 Curtain Road in East London’s fashionable Shoreditch district, set to break ground early next year.
Heitman Buys 866 KSF Regional Power Center in Bay Area
In what could be the largest retail property sale in the Bay Area in 2013 in terms of size, Heitman acquired Pacific Commons Shopping Center, an 80-acre outdoor mall in Fremont, Calif., from an affiliate of Catellus Development Corp., a TPG Real Estate investment.
Shorenstein Buys 1.3 MSF Class A Office Property in Downtown Denver
Shorenstein Properties acquired Denver City Center, two downtown Class A office buildings with a total of 1.3 million square feet, from Crescent Real Estate Holdings for $286 million.
Hackman JV Scoops Up 1.6 MSF Campbell’s Soup Manufacturing Facility in Sacramento
Hackman Capital Partners, in a joint venture with Rabin Worldwide and Capital Recovery Group, has acquired the 1.6 million-square-foot industrial building in Sacramento that had served as Campbell Soup Co.’s manufacturing facility until last summer.
JW Marriott Hanoi Expands in Southeast Asia as Luxury-Brand Hotel
Marriott International is continuing its rapid growth with the recent opening of the JW Marriott Hotel Hanoi, a brand new location for the luxury brand that has in the past year made a point of expanding into Southeast Asia.
Clarion JV Sells Storage Portfolio in Texas, North Carolina for $258M
A partnership composed of Clarion Partners and Private Mini Storage has sold for $258 million a 30-property, 2.4 million-square-foot portfolio of self-storage facilities.
Xinyuan Grabs 4 Land Parcels in China
Xinyuan Real Estate Co. has acquired four land parcels in China via auction and intends to primarily develop apartments.
CBRE Trades 377 KSF Class A Office Building in NJ Suburb
GAF, North America’s largest producer of roofing materials, is moving from its longtime Wayne, N.J., corporate headquarters to a 377,000-square-foot, Class A office building in Parsippany, N.J., in a deal described by CBRE Group Inc. brokers as “one of the largest in the state this year.”
